While you’re working on your choices as to which conveyancing firm you should hire, there are several questions in your head that you want to be honestly answered. Some questions may answer your budget questions while majority of them will give you a good idea of how effective and diligent your chosen conveyancer will be.
Here are 10 of the most frequently asked questions that property sellers and buyers have when choosing a conveyancer.
1. How much do conveyancers charge?
Conveyancers often send quotes detailing the costs of their services. The quotes are divided into two groups of pricing details: the basic fee for their time and expertise and the disbursements.
On the average, a property transaction may cost from £200.00 to £1000.00 in basic conveyancing fees while the disbursements can reach up to more than £5000.00, depending on the number of searches to be conducted, the amount the property was bought for, and other tasks.
2. Are there undisclosed charges in your fees?
Conveyancing firms that advertise dirt-cheap services are very likely to surprise you with the hidden charges at the end of the process. However, the good ones out there are very transparent in detailing the prices for the tasks they’re carrying out and will set your expectations properly if there are other expenses to be covered.
3. Will the process take long?
There is no definite number of days or weeks for the process to be finished but a simple transaction without any chain of transactions interlinked and complications can be completed in roughly 6-12 weeks. It can even be shorter if both parties had the paperwork sorted and prepared before the offer.
4. What do conveyancers work on?
There are a variety of tasks that a conveyancing solicitor does.
They take care of the draft of the contracts.
Obtain and verify Land Registration documents.
Arrange for property searches.
Arrange the payment of Stamp Duty
Arrange the registration of the new owner at the Land Registry.
5. What am I supposed to do?
The very first thing is to present a valid form of ID and instruct your conveyancer. Then once the process starts to move along, you’ll be asked by your conveyancer to review documents, sign, and return them for further processing.
6. Can conveyancers guarantee their work?
Diligent conveyancers can guarantee exceptional results upon completion. When complex matters are involved in the process, they will discuss them with you and map out an action plan to sort things out.
7. Will a local solicitor be any better?
Local solicitors may be at an advantage when it comes to experience with the authorities and if you prefer constant personal meetings to get updated. Otherwise, everything can be equally carried out by a conveyancer located somewhere else in the country. As long as you have carefully checked their reputation, expertise, and experience.
8. Why are there cheaper services posted on the Internet?
Cheap conveyancing may only seem less expensive at first glance but at the end of the transaction, you are likely to be shocked at how much the costs have accumulated due to undisclosed extra services. Always take the time to compare pricing details to avoid being deceived.
9. What documents do I have to sign?
If you’re selling, you need to sign the transfer of titles/registration and the sale contract. Plus, you also may have to complete forms that tell details about the property. When buying, you should sign the purchase contract and the mortgage deeds (usually in the presence of a solicitor).
10. How can conveyancers be reached for follow-up?
In this modern age, conveyancers are easily reachable. They’ve got mobile phones that you can call or send SMS to, emails, office numbers to call, and even online tracking/update facilities if you wish to know the progress of your case.